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Richmond Housing Authority asks city for $1.26 million subsidy to balance FY26–27 budget
Summary
The Richmond Housing Authority presented a proposed FY26–27 budget showing $4.15 million in estimated revenues and $5.44 million in expenditures and asked the City of Richmond for a $1,260,073 general fund subsidy and $25,000 in Hacienda proceeds to avoid deferring maintenance on aging public housing.
The Richmond Housing Authority told the council it needs a city subsidy to close an operating shortfall as federal funding falls short of rising costs.
"At its core, this budget is about maintaining safe and habitable housing today while preserving affordable housing opportunities for future generations," Antoinette Terrell, executive director of the Richmond Housing Authority, said in her presentation. Terrell said the draft FY26–27 budget estimates about $4,154,579 in total revenues and $5,439,652 in expenditures and therefore requests a $1,260,073 general fund subsidy and $25,000 in Hacienda proceeds to balance the books.
The authority described a portfolio of about 783 affordable and public-housing units, including Neisham Village and other named properties, and said the largest revenue sources are HUD capital funds (about $2.5 million), HUD operating subsidies (about $737,000) and tenant rent income (about $384,000). Terrell warned that operating subsidies from HUD have not kept pace with labor, utilities, insurance and maintenance costs and that without local support RHA would be forced to defer maintenance and delay preservation activities.
Public comment and council questions focused on eligibility rules for federal capital funds and grant opportunities: Terrell explained capital funds can be used only for specific eligible categories (unit rehabs, property-management system upgrades and other capital activities) and cannot be used for salaries or day‑to‑day operations. She also said recent repositioning and CHAP awards can make RHA ineligible for some emergency grant programs and that RHA's FARs recovery status has limited grant opportunities in prior years.
Cordell Handler, a community speaker who also addressed the council earlier, said he supported the consent agenda and the budget package; he also urged the council to remember the unions' contributions when negotiating salaries.
On a roll call following the presentation and public comment, the joint body approved the RHA consent and moved forward the budget item for final adoption consistent with the staff recommendation, with the record noting two members absent for the vote.
Next steps: the council recorded direction that staff may incorporate the requested subsidy into the budget package and that RHA and city finance staff continue to refine numbers before final adoption. The city manager and finance director told council they will provide any follow-up clarifications about revenue assumptions and grant eligibility if requested.
